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5..2.2026 From GoogleAI

"Prudential plc shares (PRU.L) fell today, 5 February 2026, primarily due to negative sentiment following the Q4 2025 earnings report from its US-listed counterpart, Prudential Financial Inc. (PRU), which missed analyst profit estimates. While Prudential plc operates separately with a focus on Asia and Africa, the poor performance and specific operational headwinds reported by the US firm—including a Japan sales suspension and asset management outflows—weighed heavily on the broader sector's valuation."

EPL-GAS - (If EPL not abandoned by government) - from Google AI :-

" Based on Wood Mackenzie's January 2026 "Horizons" report and the mechanics of the Energy Security Investment Mechanism (ESIM), the earliest the Energy Profits Levy could legally cease is July 2029. This date is based on Wood Mackenzie's projection that a wave of new global LNG supply could significantly outstrip demand by early 2029, potentially driving NBP gas prices below the ESIM threshold (estimated at £0.61–£0.63/therm by 2029) for the mandatory six-month monitoring period from January to June 2029. Read the full analysis at Wood Mackenzie. "

Everyone agrees the Buchan project is a profitable one - is there no provision in the JV agreement for JOG to withdraw from the JV and find new partners with different priorities to Neo and Serica ?

@ Crude Trader - " .......the way he ( Chris Cox) responded to the questions is really saying that we are not going to do this project. Remember that when Serica walks in few months time."

Would that be such a bad thing if the alternative for Buchan is to be put at the back of say a 6yr queue while Serica works thru all its easier stuff.

JOG could then seek an alternative partner who had more urgent priorities for Buchan than Serica has.

Everyone agrees that Buchan represents a profitable opportunity and it could be regarded as a liberation - otherwise JOG /Buchan is held hostage

For Andrew Benitz to try and spin this situation as an improvement for JOG shareholders is crass - its a setback.

The most significant statement AB makes in the RN is - " These terms point to a longer investment cycle over the coming years "

No wonder the brief SP improvement soon petered out.

How old are you then JamesSimon ?

Zeus brokers note does say - " We expect this work to continue over the course of 2026, with the potential for project FID in 2027. " - " potential" " ...em ?

and later ",...They would fully expect the JV to progress the project to FID in due course.". -

On what evidence does Zeus say " " They" would expect ,,,,,.." - nothing like that is said by Mr B for JOG in the RN which doesn't even mention FID

I think Mr B feels he's got to say something - but has nothing to say - as Serica/Neo in control of Buchan project and clearly dont have the same priorities as JOG shareholders.

" FID in due course..." ???

- 2years, 3 years, 2031 ?

@ Crude Trader - " One of the key point of the RNS is that one of the licences expire in August 2026 and to go into the third term a FDP is required. With this level of low activity I very much doubt they be any where close to FDP in that time frame. I think a very likely scenario is that NEO and/or Serica will walk from the JV before the August extension ."

So August 2026 will be instructive.

I think its a stretch to read this as good news - spun as 'optimum ' rather than 'rushed' progress. Buchan's size compared to total oil assets of Neo and Serica gives cause for concern regarding their priorities for Buchan.

Why the SP plunge today ?

That's an easy decision for me Couerdelion - I wouldn't be taking a profit

Simon Thompson has a ' wait & see' comment in current edition of IC

Might be in everyone's interest to vote Labour in whatever is left of the May elections - try to stop things being TOO catastrophic for Starmer.

We'd be doing it in the national interest, of course.

Re JS - As has been said before - as long as Labour are in power Starmer & Reeves are as good as it gets - this time next year we may even look back on them with nostalgia

DivaCentre - the Directors may well be feeling as gloomy as you at the moment.

If that were the case then they might be working very hard to find alternative ways of boosting the share value.

They would not be able to give a running commentary on what they were doing as unsuccessful avenues of exploration would lead to further falls of the SP and weaken what position JOG presently retains.

Yes, the FID would have represented the ' Harvest' while the FO only represented the ' Planting' - shareholder rewards will only come with the Harvest ,so

the oft quoted ' alignment of Directors/shareholders' interests should have resulted in only modest bonuses for Directors on FO.

You've convinced me JO - I'm staying in.

But good stocks like PRU wont be immune when the crash comes - perhaps tomorrow ? - the good will be dragged down with the bad.

And a major crash could impact the world economy - so good stocks wont necessarily bounce straight back.